We're really starting to notice them, aren't we?
If less than 10% of your e-commerce sales come from mobile devices, you're serving the traditional baby boomer generation (Judy).
If more than 25% of your e-commerce sales come from mobile devices, you're likely serving a much younger generation (Jasmine).
All of the hype you read about (mobile, social, local, big data) serves Jasmine.
Some of the hype you read about (omnichannel) serves Jennifer.
Almost nobody pays attention to Judy anymore, except for companies that are generating 10% pre-tax profit by marketing to her. They don't care what the pundits say, they just enjoy running a profitable business.
Nobody's business model is "dead" ... the next five years are going to be about identifying a customer audience, then catering to that audience. The biggest differences are now generational in nature. Yes, I get it, a 27 year old sometimes shops catalogs, and that 59 year old sometimes pulls out an iPad at an airport to purchase smoked salmon. Holistically, however, it's a generational deal, and we as marketers have to pick who our target customer is going to be. We can't be "omnichannel", because individual customers are not "omnichannel".
Omnichannel is what we see when we average Judy, Jennifer, and Jasmine.
In football, pro teams liberally borrow from colleges, and colleges happily borrow from high schools. Read this article for details (clic...
Look at the first four rows of our life table (values of 0/1/2/3). These are the first 12-15 weeks after a customer buys for the firs...
You probably run Life Tables for your customer file, right? Right? They've been around forever ( click here for a reference f...
If you don't like geeky math, please skip this post, because I am about to show you how the sausage is made! I have eight variables in...